Car dealers are having to battle increased levels of fraud and attempted fraud to go with a number of other challenges currently facing the motor trade. That is according to the latest Forecourt Foresight report from Close Brothers Motor Finance which found that one in five automotive retailers have fallen victim to fraud and a further 31% of dealers have … [Read more...]
€458m fines for 15 car makers over scrappage cartel
The European Union has imposed fines totalling €458m on fifteen car manufacturers for participating in a cartel that affected the recycling of end-of-life vehicles. Volkswagen received the largest fine at €127.69m, followed by Stellantis including Opel at €99.5m, Renault-Nissan at €81.46m, and Ford at €41.46m. The EU also fined the European Automobiles … [Read more...]
Tradelines 12 March
Renault is progressing joint ventures with China's Geely car business after apparently easing its association with Nissan, of Japan. The new partnership is commencing production of models in Brazil but its unclear if any versions will be exported. A survey of over 3,600 Decathlon shoppers found that EV drivers were more likely to do cardio-intensive sports … [Read more...]
Newslines 9 August
The North East is home to Great Britain’s safest roads, with just under 2% of all the country’s collisions in 2022, according to analysis of accident data. The study by Go.Compare Car Insurance said North East had just 6,122 accidents across the year, while Wales and Scotland complete the three safest British regions, both boasting just 4% of all total … [Read more...]
Newslines 18 June
Wales’ largest dealer groups, Days, saw its turnover rise but pre-tax profit fall last year. Companies House accounts for the year ended December 31, 2023, show the new and used cars business with 18,000 strong rental fleet, and one of the Car Dealer Top 100, reported an 11% increase in turnover from £257.774m to £285.195m but its profit before tax sank … [Read more...]
Chinese brands sweeping into dealerships
Xpeng is the Chinese electric vehicle manufacturer most likely to succeed in the UK market, named by 36% of dealers in new research. It is followed by Omoda (34%), BYD (31%), Lynk & Co (24%) and Nio (24%), according to June’s Startline Used Car Tracker. Other new entrants named by dealers include Jaecoo (19%), GWM ORA (17%), Zeekr (12%) and … [Read more...]
Tradelines 31 January
Specialist motor insurance loss adjuster Claims Management & Adjusting says new Office for National Statistics figures showing an 8% annual increase in vehicle thefts are shockingly unsurprising. According to the ONS’s latest Crime Survey for England and Wales instances of “theft or unauthorised taking of a motor vehicle” increased from 122,423 in the … [Read more...]
Car makers urge UK Government to boost EV support
The drive is on to transform motor manufacturing in Britain. The UK automotive sector has urged all political parties to adopt five pledges and supercharge its competitiveness as part of a dedicated industrial strategy – with a £106 billion prize up for grabs from now until the end of the next parliament. A commitment to transforming automotive production, … [Read more...]
Chinese stake in Aston Martin Lagonda
Chinese backers have moved to take a share of the quintessentially British Aston Martin Lagonda brand. Geely, who are behind Volvo, Polestar and Lotus, have taken a 17% stake of £234M in the Gaydon and St Athan luxury car makers and may raise it to 22%. The move makes the Chinese giant the third-largest shareholder in Aston Martin, behind the Saudi Arabian … [Read more...]
Newslines 27 January: Ford to make big job cuts
A massive jobs cull in Germany and other European countries is expected by the union representing Ford workers. Some positions are expected to be axed in the UK as well while the US car maker transitions towards a fully electric range from 2025, initially slashing over 3,200 jobs in Ford of Europe, and realigning with R&D in America. Bentley Motors … [Read more...]
